# Coconut Platform

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/coconut-platform

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.getcoconut.com
- Total disclosed funding: $1.1M
- Latest round: Seed (Aug 13, 2017)
- Investors on record: 3

## About

Based in London, UK, and founded in 2016, Coconut Platform Ltd, trading under the name Coconut, is a FinTech company that automates bookkeeping and tax for sole traders. Sam O’Connor is a co-founder and is the current CEO of the company. In July 2020, the company raised over GBP 2.4 million through crowdfunding. In July 2021, the company raised GBP 918,370 from 1202 investors through a campaign on Crowdcube.

The company offers a smart accounting application that automates bookkeeping and tax for sole traders, limited companies, and accountants. The application features include connecting bank accounts and credit cards, tracking business performance, claiming expenses, sending invoices, sorting taxes, and sharing business records with accountants in real-time through the Coconut Accountant Portal.

The company generates revenue through its product subscription packages, which include Side Hustle (£3.60 per month) and Professional (£12 per month). The company had a 174% revenue growth between 2019 and 2020.

## Funding rounds

- Seed, Aug 13, 2017, $1.1M — Techstars, Wild Blue Cohort, Angel Investment Network

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Wild Blue Cohort — Seed
- Angel Investment Network — Seed